Oregon plans to give 30,000 to new home buyers if they illegally enter the country. California plans to give 150,000 ]to illegal aliens who want to buy a home, and they will get a zero-percent loan. Meanwhile, only about 10% of Americans can afford a home.
According to a Wall Street Journal/NORC poll of 1,502 U.S. adults, only 10% of those surveyed in a new poll said the “American dream” of homeownership is affordable. Others cited 40-year-high inflationary costs, 23-year-high interest rates, a limited supply of affordable housing, and earnings that have eroded because of inflation.
People felt the same regardless of gender or party. Young Americans expressed the greatest hopelessness. They say they’ve “been priced out of homeownership.” They’re saddled with college debt.
“While 89% of respondents said owning a home is either essential or important to their vision of the future, only 10% said homeownership is easy or somewhat easy to achieve,” the Journal reported.
“Financial security and a comfortable retirement were similarly labeled as essential or important by 96% and 95% of people, respectively, but rated as easy or somewhat easy to pull off by only 9% and 8%.”
Twelve years ago, in a different survey, more than half of 2,500 polled said the American dream of homeownership “still holds true.” That is no longer the case, the Journal notes.
After 12 of 16 years under Democrat rule, the American Dream is gone.
The National Association of Home Builders (NAHB) says the latest estimates show that, nationally, 103.5 million households are already unable to afford the median-priced ($495,750) new home with a mortgage interest rate of 6.5%.
Bidenomics
86% of Americans who do not own their home would like to buy, but can’t afford it — and more than half of them say it’s unlikely they’ll ever be able to do so.
— Wall Street Silver (@WallStreetSilv) July 29, 2024
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